Continue working in NJ vs NYC for 20% raise + 'promotion'?

[Zeze]

Now: I’m a consultant living and working in NJ. Via my vendor, I make $62/hr as an IT Production Support Manager- this is good as I’m getting some managerial experience. I’ve been billing at 45~ hour a week, so effectively my take-home is similar to making $70/hr~. I’ve been at this job for 15 months. People like me, I have a good reputation, and I’m starting to get cozy- which I don’t mind.

Prospects: This IT PSM gig is wrapping up, so I’m at a bit of a crossroad. Within the same company, my vendor will place me doing Business Analyst work.

NJ (continue stay at same company).
+ Good reputation, good networking, comfortable, same pay.
+ I want to stay here for a good amount of time (3-5 years) so my resume doesn’t look like a job hopper.
+ Commute is cozy 40 minute drive each way.
+ We’re looking to buy a home this year. Working in suburbs/office park of NJ gives us more options for better value houses.
- I really DON’T want to do Business Analyst stuff. I’d rather go back doing PM (my career) or continue managing. Looks like I don’t have a choice due to lack of opening. Also spreads my resume thin & all over the place.

NYC (new company, new vendor, interviewing now)
+ $85/hr. So that’s effective $15/hr more or $30K~
+ This is a bona-fide Senior Project Manager gig, looks GREAT on my resume and what I want to do.
- Commute will suck- 45-50 min bus into the city + subway to work. That’s $125 subway pass + $154 bus monthly (WTF). 75-80 min each way.
- So how much is the NYC city tax? Is there a chart I can look up?
- Brand new job, new people, who likes starting new.
- Hinders with home ownership, we have to buy a home where it’s accessible to NYC.

What are your thoughts?

 

[brianmanahan]

i vote for NYC, because i think it will result in you posting more entertaining threads

yeah, selfish, i know :awe:

srsly though, if you want to be a PM you gotta be a PM (though there are probably plenty of other PM options around your location in NJ too i would think)

 

[brianmanahan]

So how much is the NYC city tax? Is there a chart I can look up?

ask jeeves

i think its like %3-4 though

 

[cbrunny]

You're deciding between making ~$145,600/yr in NJ or $176,800/yr in NY?

 

[halik]

You don't pay NY city tax if you don't live in the city.

You're getting 19% more money (adjusted for transit cost) for ~15% more commuting

 

[Zeze]

You're don't pay NY city tax if you don't live in the city. Still probably not worth it, given the marginal increase in pay.

I read it otherwise?

http://www.tax.ny.gov/pit/file/nonresidents.htm

[edit] I found it, it's 3.68%. So it's really a 15%~ raise after city tax, commute cost, and commute's personal time lost.

 

[z1ggy]

I'm too lazy to look it up exactly, but from google, the top tier for nyc income tax is 3.876%. So figure on your $160k, you'd probably be slightly under that, maybe ~3%?

NYS income tax is similar to NJ, maybe slightly less, so that might only make a small difference.

Overall, you'd essentially be getting paid ~$20k more after travel and taxes, to do a job that better suits you, in exchange for double the travel time. If you consider you'd be traveling for at most an extra 80mins a day (400 mins a week), you're making 21% more money, for being away from home an extra 16% of the time. Sounds like a good deal to me.

 

[cbrunny]

Never would I ever extend a 40 minute commute in a car to an 80 minute commute in multiple forms of public transit.

 

[halik]

I read it otherwise?

http://www.tax.ny.gov/pit/file/nonresidents.htm

[edit] I found it, it's 3.68%. So it's really a 15%~ raise after city tax, commute cost, and commute's personal time lost.

http://tax.custhelp.com/app/answers...ut-i-earn-income-there.-am-i-subject-to-a-new

 

[Zeze]

http://tax.custhelp.com/app/answers...ut-i-earn-income-there.-am-i-subject-to-a-new

Now I'm confused, as well as others in here saying you have to pay.

 

[z1ggy]

Now I'm confused, as well as others in here saying you have to pay.

Looks like according to that link- you don't (unless you are a NYC resident).

So now it's even more compelling to take that job, since you won't be paying that additional tax, as long as you don't mind the extra 6.5hrs of travel per week.

 

[s0me0nesmind1]

HAND DOWN, NJ wins.

You haven't even factored in possibly costing more in NYC playing the biggest factor (and negating your 'raise'). I'm talking about housing. Typically, it's going to be much more expensive. Same with an apartment.

Over the years I have learned that commute time is sacred. Honestly, even 40 minutes each way sucks balls in my opinion. I say that because that is my commute time too. I would kill for just having a corporate building around the block off the side of a freeway and living a few miles from it without much traffic. I fucking hate trying to avoid highways during certain times of the day (Note: Since I'm in Houston, that means all the time every day).

My vote is TOTALLY with NJ man. Don't kill yourself over a supposed raise.

Never would I ever extend a 40 minute commute in a car to an 80 minute commute in multiple forms of public transit.

This x9000

 

[Zeze]

HAND DOWN, NJ wins.

You haven't even factored in possibly costing more in NYC playing the biggest factor (and negating your 'raise').

Over the years I have learned that commute time is sacred. Honestly, even 40 minutes each way sucks balls in my opinion. I say that because that is my commute time too. I would kill for just having a corporate building around the block off the side of a freeway and living a few miles from it without much traffic. I fucking hate trying to avoid highways during certain times of the day (Note: Since I'm in Houston, that means all the time every day).

My vote is TOTALLY with NJ man. Don't kill yourself over a supposed raise.

Yea. Again, it's not about $. For NJ, I'll be doing BA crap which I've stated isn't ideal for my resume.

 

[s0me0nesmind1]

Yea. Again, it's not about $. For NJ, I'll be doing BA crap which I've stated isn't ideal for my resume.

Unless they allow you to work from home

That's getting more common.

Did I mention I'm working from home? :awe:

 

[brianmanahan]

if this job gets you 30$k per year more but takes 6.5hrs more per week:

30000$ / (6.5hr * 50) = 92$/hr

each extra hour in your commute is basically getting you 92$ gross, which is pretty good

once its taxed it probably goes down to 60$ though

 

[s0me0nesmind1]

if this job gets you 30$k per year more but takes 6.5hrs more per week:

30000$ / (6.5hr * 50) = 92$/hr

each extra hour in your commute is basically getting you 92$ gross, which is pretty good

once its taxed it probably goes down to 60$ though

What if it takes away any and all free time from the commute?

If OP has a family or wife, things like that usually don't quite work out. It tends to just end in drama and wanting to kill yourself every day.

 

[brianmanahan]

yeah, i just switched to driving instead of taking bus to cut my commute down by 20-30 mins one way

its more expensive, but worth it

 

[Dari]

I have no idea where the op would work but, because so many people commute from nj, a lot of the IBs, consulting and hedge firms have moved to midtown. For IBs, it's only Citibank and GS that have stayed downtown. Commute may not be so bad once he's in midtown.

 

[SP33Demon]

Now: I’m a consultant living and working in NJ. Via my vendor, I make $62/hr as an IT Production Support Manager- this is good as I’m getting some managerial experience. I’ve been billing at 45~ hour a week, so effectively my take-home is similar to making $70/hr~. I’ve been at this job for 15 months. People like me, I have a good reputation, and I’m starting to get cozy- which I don’t mind.

Prospects: This IT PSM gig is wrapping up, so I’m at a bit of a crossroad. Within the same company, my vendor will place me doing Business Analyst work.

NJ (continue stay at same company).
+ Good reputation, good networking, comfortable, same pay.
+ I want to stay here for a good amount of time (3-5 years) so my resume doesn’t look like a job hopper.
+ Commute is cozy 40 minute drive each way.
+ We’re looking to buy a home this year. Working in suburbs/office park of NJ gives us more options for better value houses.
- I really DON’T want to do Business Analyst stuff. I’d rather go back doing PM (my career) or continue managing. Looks like I don’t have a choice due to lack of opening. Also spreads my resume thin & all over the place.

NYC (new company, new vendor, interviewing now)
+ $85/hr. So that’s effective $15/hr more or $30K~
+ This is a bona-fide Senior Project Manager gig, looks GREAT on my resume and what I want to do.
- Commute will suck- 45-50 min bus into the city + subway to work. That’s $125 subway pass + $154 bus monthly (WTF). 75-80 min each way.
- So how much is the NYC city tax? Is there a chart I can look up?
- Brand new job, new people, who likes starting new.
- Hinders with home ownership, we have to buy a home where it’s accessible to NYC.

What are your thoughts?

Is the NYC job 30K more before or after taxes? If before, then a third goes to taxes so you're left with 20K. Your bus fare is worth roughly 77 gallons of gas@2$, 30 miles to work each way = 60 miles a day*20 = 1200 miles/month. Assuming your car gets at least 25mpg, 1200/25 = 48 gallons. 77-48 = 29*2 = about $58/month more. Add to $125 subway = $183*12 = $2196 more to get to your job per year. 20K - $2196 = $17,804 more per year that you'll make or $1483 per month (minus alleged NYC taxes) but losing 40 minutes each way * 2= 80 minutes*20 = 1600/60 = 26.666667 hours per month in commute time.

If it were me, I think the commute with all the other idiots would wear me down. I took the train for a year and it wasn't horrible but everything from people coughing/sneezing next to you, screaming babies, homeless people and muslims singing ominous songs about allah all irritated me. A train + a bus would make me want to off myself.

If this was your dream job, I'd take it. But of course my dream job would include teleworking for most of the week. If I had to suck it up on mass transit for only 1 or 2 days a week for a higher rate, then I'd definitely do it. But if I had to go in every day on 2 forms of mass transit, I'd off myself first.

 

[Dari]

Subway is $112, not $125.

 

[Rakehellion]

Employers routinely pay more in NJ because Jersey sucks.

Depends on why you work for a living. Is it to live in a nice house or to buy fancy meals?

 

[Jimzz]

I turned down more money to have shorter commute, After 4+ years I wanted a change. 10minutes to and from work, able to pick my son up from school if I had to, etc...

So NJ sounds good to me but you need to decide. Have you asked them for a raise?

 

[slayer202]

NY. Get the experience and you can go back to NJ down the line. Commute sucks but sounds like it's the option you want

 

[vi edit]

3 hours of commuting under ideal circumstances? Yeah fuck that noise.

Stay where you are and wait for something better that is closer to you.

 

[Markbnj]

If you live up here you already know the deal. NYC is more expensive to work in than NJ. Is it 20% more expensive? Not sure, since I vowed never to work there again about twenty years ago and haven't since. Just make sure you factor in all the costs, the tax, tolls/passes, parking, cost of little things like coffee and lunch, etc.